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tv   Mad Money  CNBC  October 14, 2015 6:00pm-7:01pm EDT

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>> or alphabet. >> the netflix opens in the green tomorrow to quote a minnesota friend of mine, pete najarian, watch this, giddy-up. see the way i did that. >> i'm melissa lee. see you my mission is simple. to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere. i promise to help you find it. "mad money" starts now. hey, i'm cramerer. welcome to "mad money." welcome to cra-merica, my job is to educate and teach you. call me or tweet knee. walmart is known for the every day low prices and incredible discounts. today, it put the whole stock market on sale when it lowered its guidance for sales and
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profits for the next couple of years. you know what, it was a take your breath away market. and an incredible announcement. caused the stock to cascade. down 10%, losing $21 billion in value. one day. and it woes in turn spilled to the rest on the market. with the dow's decline, the s&p falling nearly half a percent. what is done and is done though if you own any stocks, involving these stocks you got clobbered. although the initial and ridiculous over reaction down from netflix, one of my favorite stocks was rectified after. i want to step back and determine whether the reaction to wall hmart and the stock mar
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was justified. something we will do when we sit down with the ceo of walmart later in the show. first, should the earnings news have been a surprise? obviously shocked in wall street, you don't get a stock that much. i know doug will make a case that he telegraphed the earnings, after he talked about paying more and more, and over investing in the stores to restore growth to the fastest growing store chain in the land. before he took the chains in the can, the china was trying to lower merchandise pricing for customers. and ended up cutting the bone of good store management. wall street fell in love with mcmillan, with the stock going to as high as $90, it has been downhill since then. accelerated by the february letter to employees about how
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they were underpaid and it had to change and change fast. when i look back at the trajectory of their earnings and sales, i'm of two minds of what happened here today. the first, most obvious, and most negative is the read-through to the economy. if 100 million shoppers go to walmart each week in the earns a -- earnings are going to drop to minus 6 or 12% in the next few year, things are obviously terrible with the u.s. economy. that's what sent down all of the retailers and restaurant chains. it crushed them all. some of it is because of etfs. they are heavily skewed to larger players in the industry. and walmart at $200 billion and take down an index stocks. when they sell walmart, that goes to all the other retailers that walmart is in.
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so the stock reaction will be swift and it was today. they jump to conclusions that the lower gas prices have not amounted to a hill of beans and of course, because we are one step ahead, because the fed may tighten in the environment, now it frightening to those thinking of the fourth quarter spend in light of walmart's production. what will happen to the consumer if the fed tightens up after the walmart blow-up. but let me give you the more rational mind view of the debacle. i said two minds, i like the second mind. this was a do or die moment for walmart. it was do or die if it wanted to stay relevant. they had to take the projections down because he wants a long-term turn that will be a dramatic turn for investment. not a doyly of lace, this is the whole she-bang.
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more than he could do if he wanted to maintain the slow bleed of less and less growth and a decent in to the like s sear and gaps of the world. still shocking, but it was necessary. can he do it? oh, this is a tough one, walmart is the biggest battle ship in the ocean, first, i was chatting with a number of other retailers, of course, how could you not wanted to see if they were seeing a reversal of fortune that mcmillan talked about and to a retailer, the answer was no. i'm hearing the opposite from many of them. this is walmart's problem and they are addressing it. i think everyone else is taking share. second, i think walmart's opponents have gotten better and tougher over the years while the big ben tonville has been standing still. target has new management and
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has rebrand eed merchandise and will meet any of walmart's low prices. costco last week, reported comparable sales numbers, seven times that i am expecting from walmart. that makes no sense to me. so, were the stocks of starbucks, chipotle -- these three companies, starbucks, you know, chipotle, costco, these three companies, you know what, they pay on average, twice as much to the rank and file as walmart does. twice. more important these company cans have a different culture than walmart. one that is far mor more inclus
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on every level. costco makes customers more loyal and has lower training costs. howard schultz, ceo of starbucks has offered college subsidies to his baritstas, i'm going spend more time on these issues, and how much it has meant to stock holders that the companies pay so much. as i will tell mcmillan, their stocks have made you a ton more money than his has. more over, despite the decline in retail stocks we have evidence on the other side of the trade. the biggest banks, had double digit loan growth and has plenty of consumer spending. after hearing the calls, i said, fed, go ahead and tighten. the banks are doing well. and martin franklin, the ceo of
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jardin, preannounced better than expected earnings. i mean, jarden has sold stuff to all chains. so walmart has to do more. we will speak to mark later and talk about his exciting acquisition of the company. intel told a story of positive, well let say potentially positive consumer spending on technology. they stopped short of saying that the bottom is being put in to windows pcs. there's so much consolidation, the floor is at last being laid for a strong supporting move higher. i told you yesterday, the market is over bought and it still is. there's too much fluff. walmart took a lot out today. if you let the market over react to walmart's personal woes, you will get good opportunities to buy stocks at excellent prices. your prices. show patience. who knows, even walmart at a
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certain price will be right. or at least with a 3.2% yield. you are being paid to see if the turn can be pulled off. although i would wait for two more quarters before i would venture in to the stores or back in to the stock for that matter. eric in california, carrying? >> caller: hey, jim, nice to hear your voice. >> thank you, almost losing it. what is up? >> caller: i'm invested in amba, and i'm questioned about third fourth quarter, what they are going to do. and also the drones and the other products that they is sell to companies, is that going to help them through what they are going through right now? >> the answer is yes, and it decouple from go-pro, but there was an interesting piece that did a survey of teens about the go-pro and let's say, the people have had i had at and it's not back. thomas in florida, tom as. >> caller: my question is for
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tesla. all right, the stock is falling 15% or so over the last couple of weeks and i hear down grades but it seems to have found support recently, is right now a good time to buy the stock? >>. >> if you don't want to be in tesla, hold on, higher prices could happen and that gives you a chance to sell, sell, sell. which may show my bias on the situation. larry? >> caller: best short rib taco in new york. read my lips. i want to see if i should defend a 13% loss in amerisourcebergen
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or whether you prefer -- >> you give me great examples, which which means you do your home work. i like amerisourcebergen, don't tell me this the consumer is rolling back. it's walmart that is rolling prices back for all stocks when it should be contained by the bentonville giant. listen to what u.s. companies are saying, we are doing better than you think, particularly after today's trashing. walmart did have its worst day in wall street after 15 years. profits will be down 15 to 16%, is today's drop a red flag? we sit down with the ceo, and we will talk about the new champion operating in the banking business. and the company will continue to churn out deals, will it point to the strength of the consumer?
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why don't you stick with cramer.
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do we have a new winner in champion in the banking business? has the worst player in the space, suddenly gone to first? i am talking about the incredible showing from nonother than bank of america. in a quarterly report that smacked of what was normal. meaning all the one-time hits and worries, well, you know what? they finally seemed to be behind them. what is left is a growth machine that is no longer depending on the fed raising interest rates to generate a big earnings boost. for bank of america, the chicago cubs of banking frankly, it's a whole new ball game. it was always in trouble with
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all sorts of governmental agencies. so the legal fees that the racked up would be endless, and they were not go return as much money to shareholders, and third, without a rate hike, you will not see earnings power because the company is too dependent on higher rates. this quarter smashed all of that. the legal expenses dropped. second. the compa the company's got oodles of extra value. the ceo, a survivor, won't buy back stock when the fed gives him the go ahead. look for a dividend boost. third, bank of america's blocking and tackling business, were all strong.
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among the strongest in the industry. i'm less happy about j.p. morgan's earnings they did themselves no favors in the way they told the story. the weakness in trading was stressed, and not the fabulous robust growth in the core banking business. if you get a rate hike or two, you will regret selling the stock of j.p. morgan, but i understand why people are down beat, because the company was up beat enough their own story. i see j.p. morgan as an opportunity in a 58 doctor region. i think you will see that price though, when the smoke clears. as for wells fargo, their earni earnings, as always, was clean as a whistle. it did not make as much money off the deposit base. when i talk to ceo in san francisco, i got excited about
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it. but it dropped a base point, that is being viewed as a disappointment. i have to point out, there's so much else to like about wells fargo. with the consistent growth and strong loan and deposit growth that it is a sad mistake to dump the stock here. but they own this and of america had. however, the expectations were too high and the numbers failed to exceed the expectations. understand that the new-found love for bank of america right now, has more to do with the c-student that is getting a a's and at the same time the two a-plus banks, wells and j.p. morgan brought home a a-minus and a b-plus. here is the bottom line. i think bank of america, with the new earnings profile, will climb to 18 dollars over time. or higher if the federal reserve will tighten upothers, stay the. it will take a rate hike before they begin to challenge. more mad ahead. it's one of the largest retailers in the world. well, it is the largest.
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and it lost $20 billion in market cap. i have to sit down and figure out what the heck is going on with that company. and could last week's rally signal a rate hike. from crock pot to -- should you own jarden's stock after today's acquisition? i have the beef. coming up.
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. as i mentioned earlier, walmart got taken to the wood shed, after it hold one of the most sober analysts meetings that i recall. the long-term forecast was perhaps showing six percent to 12 percent in earnings hits because of higher labor costs. the forecast was so negative that even the announcement of a 20 million dollars buy back did not give the stock traction. i've been down beat about walmart, but we are willing to hear the other side of the story on "mad money," and engage if it a classic over reaction to long-term positives taken to preserve the institution, and get it to prosper, as it did for so many years. let's check in with the president and ceo of walmart and get a better sense of what is
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happening. welcome to "mad money." have a seat. >> thank you. >> all right, doug, surprised, shocked, because the decline for the largest retailer in the world's stock was stunning to me. how about you? >> we had the analyst meeting today and shared news about the next year's guidance and talked about the next three years. there's a lot of pressure on the next year because of big investments. starting with this year. the first one is the wage investment. so, you know, that in february, we announced a two-step wage crease. we moved the minimum to $9 this year and $10 next year. this year, it $1.2 billion, and next year, it's $1.5 billion, that is 75% of the pressure we feel next year. before the earnings start to turn. >> doug, when i look at wall street looking for a gain of 4% and you are talking about a possible decline of 6% to 12%.
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that is as material as i see of a miss from versus wall street answe guidance. >> i think it's great that we are showing what three years will look like. >> it's a departure of what people thought. you maybe put a lease out this morning? >> people have known that $10 was coming for a while. the real issue is are we doing the right things to position walmart for the future. are we investing in the business to strengthen it. we ran down six quarters in a row in u.s. stores. you cannot run down in comp and retail. now, we have run up four quarters in a row. we are seeing traffic go up. customer service scores are going up. we have taken the clean, fast, and friendly score at the beginning of the year from 17% favorite with customers to 67% now, and it's because our associates are doing a better
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skob of running the stores and helping the customers. >> all day, i heard you can't grow. that you are maxed out out. that there's no more room. this is what happens when a company becomes the dinosaur. >> this is us playing offense. for the last couple of years, we have grown 2%, and today we shared that we would grow 3 and 4%. and add 35 to $60 billion in revenue. that's the combined size of net flick, bay, whole foods and starbucks. we will add that much volume in three years. it's a growth company. >> why should we trust, dug mcmillan, given the fact that the guidance, that wall street felt so differently? what did you accomplish today that made us feel more confident that we should buy the stock at $60, down more than it has been in ages. to me, i don't know what the
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real out look is now. >> if we don't win with customers we don't have a business. we have grown to improve the customer service and we are building an e-commerce business. doing that putting pressure on short-term earnings, but it's not like we are saying, in five years we will have something. we are showing today the commitment and a share repurchase program. >> maybe you need everything to beat amazon, maybe the stock is not a good investment. maybe you want to stay the share and figure out how you lost a share to costco and amazon. maybe you need the dollars. >> we do it with the wage investment. >> but you are not doing it though. >> i find it interesting that we are being criticized for doing the first thing first and the second thing second.
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after it over, we will generate $80 billion in cash in three years. over the three-year period. of that $8 billion in cash, we support a dividend, we have had it for 42 years in a row. and we set aside the share repurchase to help shareholders get a return during period of time. that is a strong vote of confidence. >> you talked about the comparable sales going down, how much of it is the economy and you losing share dollars? >> what happened is we were so focused on productivity, we did not invest in the stores the way we should have. >> is that part of you, you have been in since 2013. >> i own some of that. >> fair enough. >> we tried to recover from it by putting store within a store, put ownership in a department skpumpt talked about the apparel area, being able to find our size. and we need a manager in men's
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wear that only cares about men's wear that creates a great experience for you. we have added in store and department managers. and have a more flexible scheduling system. so it's aimed at a better customer experience. >> costco, 43, went to 150. starbucks, 13 to 59. everyone of the companies pays twice what you do. minimum, they have massive health care. and costco advertises that you have the best benefits and chipotle, gives the managers cars and stock options. you are paying them an extra buck, man. >> we have a great health care program. too. and you are not thinking about the assistant manager opportunity the store manager opportunity the department managers in the most complex department will make $15 an hour
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to start. as you think about the gap in the wages, it's not what you are describing and we are make progress. >> you have tried every day low prices many typeimes. what do you have that is different, what will make it so i want to shop at walmart and not target? >> has to be great merchants in the store, fresh food has to get better. we have a great opportunity. we are increasing sales in organics and natural foods. but we have a tremendous opportunity. one, the store has to be great. two, we are a adding to the assortment in e-commerce and the win for walmart is the way we put it together. a supply chain that moves truckload and a way to do it in a lower cost, to leverage the existing supply chain. >> i do not want to pick up my
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goods to walmart. i want them delivered cheaply by amazon prime. >> we have been doing grocery delivery in the uk. customers love pick up. but it can't be hard. you can't park in a walmart parking lot and go to the back of the store. >> i want the guy to come to my car, my friend. >> you pull the in the parking lot and we are doing it in denver. going 20 markets by the end of the year. >> that leads me to a step back question. i hear a lot of good things. you will take the country by storm with better numbers. and i look at the stock doug, it's like when st. louis lost last night. >> i'm a cardinal fan. >> sorry. the score, we live by the score. you are a numbers guy as well a merchant. the score is that you lost. why should the score be changed?
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>> it depends. >> if you put it wred, you were crushed. >> we had a investment in the wages, and maybe i have a messaging problem. maybe i'm not telling the story like i need to. >> maybe you are not getting enough credit for what you want to do and maybe it gives you the re set, you wanted more breathing room and you got taal the breathing room you need. they said, listen, i don't think they can grow, so show me. do you think you can show me in the next year's timeframe? >> we have to, but all we wanted the to do was quantify the move to $10. >> i think it surprised a lot of people. i think people were shocked frankly. you have to give them that. the stock does not get hit like this. communications? >> we have known for a long time it was moving to $10. if i had to it to do over again.
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it is what it is and the news was going to be new at one point? >> you going to buy the stock tomorrow? >> everything that i buy is walmart. >> you buy more? >> everything i have is in it. >> he has told you what he said today, in a way that maybe he gets more credit for. "mad money" is back after this.
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♪ ever since the third quarter came to an end, the oil stocks had become one of the hottest groups in the market, because they are coming in now, in a week like this, where the price of crude got hit and the group is not pulling back. you have to think of taking advantage of the weakness to buy some of the highest quality oil names. as they retreat in the over bought tape that is getting soggy by the day. and that is why all week, i have been highlighting energy stocks. oil and gas names that are safe to invest in, even in an environment like this one. many energy companies have over
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stressed balance sheets and the idea is that things will remain bleak. a strong case was made last night that oil is headed higher in the off the chart segments. in short, i want you to have energy exposer and i want you to be smart about it. which had is why i'm reacting the highest companies with the safest stocks, like energy transfer partners t super high yielding natural pipeline gas play. and occidental petrol, if neither is up your alley, i have other ideas that i think work. even in the confusing environment, where i head oil to go to the low 40s where i want to snap them up for long-term gains. let's talk about another pipeline relationship with a yield that i never talk about. enterprise product partners. that is one of the countries
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largest mid extreme energy service company. it has a 5.5% yield. that is not often that you get that from them. the best operator in the game some say. the incredibly well run company has 51,300 miles of shore and off shore pipelines for oil and natural gas. they have a lot of storage capacity. now, like i told you, i recommended them on monday, if you want to own a pipeline stock in the environment, it's better to buy a company that is biased toward natural gas. even though the price is low of nat gas. what matters when you run the company is not the price of the commodity, but the volume being shipped. meaning the quantity of stuff you transport. unlike the oil business where we know the domestic producers have to cut production to see the
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price climb. we have seen that already. when it comes to natural gas, we can expect volume s to keep rising. in part it's because they have gotten used to low prices we have vast stuff here. and it's the fuel of new choice for new power plants. now that the epa has made it so tough to burn coal. which is shown by csx. coal is not coming back. it's all nat gas, especially if a democrat win s in the white house. and a number of natural gas transporters are being formed. and the first of the terminals, will near energy, and safe past projects, and it will come on line by the end of the year. i expect, maybe as much as 10% of our nat gas to be exported overseas in five years. that is right, five years from
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now. that will require a massive amount of pipe. put it together in a company like this, remember, this is not an oil pipeline company, with the rest relating to natural gas or natural gas liquids. it's the kind of partnership you want to earn right now. they will make a killing as the buy ups in natural gas rises. even if the gas stays down. best of all, they have been given an exemption that will allow them to export natural gas liquids and oil condensates, no one is talking about how they got the exception. it very good. it's like exporting oil. but the big guys can't do it. and epd can. they do more than transportation. they are in the gathering and processing process.
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after you extract it, it has to be process ed. epd has 24 processing plants. serving producers in the gulf coast. this part of the business has more commodity exposer 36% of the companies are commodity based. interprize product partners end up having nice additional up sides that i'm not counting on here. overall, the vast majority is fee based. and that is how epd returns so much money. now, they have a history of making the smartest accusations in the game. for example, fwhak july, epd selling the off shore gulf of
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mexico business was being sold and then plowed back in to the off shore oil business. and back in june, they bought 460 miles of pipelines and ten central gathering plant. that i love. the company can then plug the gathering pipes in to the longer range pipelines and ship gas beyond the acquisitions, they have $18 million under development. they have a history of completing the projects on time and under budget. so, they have a potential for growth. even in this environment. what we care about is the distribution. what you get to take home. you know i like epds yield. it could be a red flag for some. they don't actually have the cash for the payouts. that is not the case when it comes to enterprise. they raised their distribution
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for 44 consecutive quarters and they plan on growing the payout. isn't this what you want? these are sleep at night stocks. epd has a very conservative distribution policy and the last quarter, enterprise had a coverage issue, i will get to it and what it means, it mean s ty again rated enough to pay it and have some left over. by not paying all the cash, they have enough money left to make key acquisitions. you get a terrific yield, stock far from expensive. down 23% for the year. it's time to think of enterprise
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here. bottom line, federal reserve on hold, there's no bond market competition for these companies and enterprise product partners is now one of my favorites. it's the kind of energy stock that you don't have to sweat the program about. you may lose sleep. but stick with cramer. let me talk to you about retirement. a 401(k) is the most sound way to go. let's talk asset allocation. sure. you seem knowledgeable, professional. would you trust me as your financial advisor? i would. i would indeed. well, let's be clear here.
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i'm actually a dj. [ dance music plays ] [laughs] no way! i have no financial experience at all. that really is you? if they're not a cfp pro, you just don't know. find a certified financial planner professional who's thoroughly vetted at letsmakeaplan.org. cfp -- work with the highest standard.
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♪ it is time. it's time for the lightning round. ♪ are you ready? time for the lightning round. let's start with tim in virginia. tim. >> caller: i'm calling about osiris theraputic. >> they are a good company, up for the year. making a good money. it's an exciting spec. but remember, let go to lewis in minnesota. lewis? >> caller: good evening, dr. cramer.
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>> how are you? >> caller: wonderful, my stock is opto-health. >> i thought that dr. phil came on and talked about the bio reference lab and this stock is a buy. right here, right now. i'm not afraid to stick my neck out for him. he made people too much money. going to pete. >> caller: thank you for taking my call again. what is your take on forever flat tech technologies? >> it is forever flat. when we are hearing about fair job up for sale, it does not move. what does it tell you? you don't want a part of it. let go to ben in new york. ben. >> caller: booyah. >> what is happening? >> caller: hey, i appreciate what you guys are doing for us there. out of all of the street veterans, your information is the one i listen to most. i really am concerned about, i
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have a question of ppg. >> certainly, they report tomorrow. here is what we know. now, jeremie, this stock went tall w tall way down to 82 -- all the way todown to 82. you will not go wrong buying the stock in the low 90s. so i will say, when it reports it gets hit. bob in arizona. >> caller: hello, cramer. i believe any stock is similar to a company that was on your show recently. the symbol is iplr, you know they are not going change our mind, we are sticking with q, how about david in california, david? >> caller: hey, cramer, it's david from san francisco. i want your thoughts on rite-aid. >> it has been a one-way tith down, i recognize it.
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it has to put two same sales stores together. i'm buying. this is the conclusion of the lightning round. working 24/7 on mobile trader, rated #1 trading app in the app store. it lets you trade stocks, options, futures... even advanced orders. and it offers more charts than a lot of the other competitors do in desktop. you work so late. i guess you don't see your family very much? i see them all the time. did you finish your derivative pricing model, honey? for all the confidence you need. td ameritrade. you got this.
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♪ this morning we learned that jarden, home of many household
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name is buying jostens, a leading member of school memorabilia. i gave them money in high school, you did too. jarden allows it to dominate niche markets. just three months ago, they snapped up a company that makes paper plates and cutlery. now, this stock has been a terrific long-term performer. has given us a 23% gain. i think they have more room to run. let's talk to the ceo, to learn about the deals and the company's prospects. have a seat. >> when i first saw it, i said, off base. i'm used to going down the aisles and seeing your stuff. and not seeing your stuff in a high school. but it does make sense versus
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the channel. you like new channels, don't you? >> this is a very -- it a market leader. it has a brand that you know, students and schools alike recognize and the realty is, it brings us in to a new distribution channel. our business is to make products that we can sell in to as many channels as we put our products inand it's a new edition. >> you have terrific sporting goods programs? >> our rolex does business in schools and deals with the same departments and schools universities. there's going to be an overlap for sure. >> it interesting, in the conference call. some of the analysts questioned why did you get it so cheaply? was it a declining brand? >> well, we try to find value. don't forget we paid eight times for yankee candle and that business is growing above the fleet everything a for jarden. if you want to create value, you have to find businesses that you
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get good with value and make the businesses better. >> why is it such an annuity stream? >> once you are in the school, it's a sticky relationship. a lot of them are personal relationships and are based on trust and convenient and a lot of things and justins is the market leader, provides the tools that the schools need. not a lot of reason to change. >> when i grew up, he every school around me, we were all jostlens schools. >> there's a lot of, new space, there's a lot of old space that can be regained. what we want to do is give them tools they have not had before. this was a plong in life private equity owned company. investment was not the priority. for us that will change.
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we will make the investments to make the businesses stronger than it was. >> we had a jarring day here on wall street because of walmart. speaking with doug mcmillan, he is making a big change to try to bring back the dmer and reinstill growth. you sell in to everybody. is it a fact that when they do better, you lose customers? >> that's a natural challenge that, walmart has. the reality is, buyers, want to go in and buy specialty. that's what happens. walmart is the largest out there, they have aamazing systems. >> you think they can pull it off. >> yeah, they are focused on the skmer and at the end of the day, they give the customer what they want. >> in general, business is good in the country. >> yes, the consumer is healthy. >> you are in a lot of rows and aisles so you have a good measure of things.
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>> yes, we just put out our figures and we are up 5.9% or began i c ganic, which is great. >> let me ask you about the yankee candle deal. what was the growth rate two years in? >> we were doing our due diligence, we looked at the business and it was presented as a sort of 6% organic grower, but it was not growing at that rate. which is why we were able to buy eight times. it has now been an 8% grower. >> jostlens is the way that you want to handle them? >> we think it will take us 24 months to get the business to where we think we can drive growth and then we think we can grow at the low end, and maybe we will do better. >> you have been a manager and i believe everything that you are doing. it's a great idea.
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you are a very smart guy, martin he is the founder and he can active, they put their money their mouth is. "mad money" is back in a minute.
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well be a couple more, we are way too over bought. there's always a bull market, i promise to find it for you. i will see you tomorrow.
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[tires screeching] >> flags are up. [screaming] >> hi, i'm jay leno. all: hi, jay. >> hi, everybody. how you doing? and this is a show about cars. it's fun to drive cars that are really different. >> this one's a death trap. >> oh, i see, because-- >> because it's dangerous to ride. >> and motorcycles, and well, anything that rolls... like driving a two-story building. oh, my god, strong as an ox! explodes... i love the smell of napalm in theorning. yeah! or makes noise. >> you ever run a dragster? >> no, i haven't. [engine revving] this is "jay leno's garage." >> start your engine. [wailing]

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